Skip to content


Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: Bank Secrecy Act

FinCEN fines Trump Taj Mahal $10 million for AML and reporting offenses

The Financial Crimes Enforcement Network (FinCEN) fined the Trump Taj Mahal Casino Resort $10 million Friday for willful and repeated violations of the Bank Secrecy Act.

Trump Taj Mahal in Atlantic City, New Jersey admitted to willful BSA violations, including lapses in anti-money laundering, recordkeeping, and reporting requirements.… Continue Reading

FDIC wants banks to use ‘risk based’ compliance for each customer

The Federal Deposit Insurance Corporation (FDIC) issued guidance Wednesday encouraging its insured banks to take a risk-based approach in assessing individual customer relationships.

The FDIC said in its Financial Institution Letter that looking at risk on a case-by-case basis is better than declining to provide banking services to entire categories of customers.… Continue Reading

Sung-Hee Suh appointed to DOJ criminal division

Sung-Hee Suh (Image courtesy of Schulte Roth & Zabel)Assistant Attorney General Leslie R. Caldwell said Monday that Sung-Hee Suh has been appointed to serve as deputy assistant attorney general overseeing the appellate, capital case, and fraud sections of the Justice Department’s criminal division.… Continue Reading

FinCEN advisory defines ‘culture of compliance’

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) defined the concept of a “culture of compliance” in a six-page advisory  Monday that was aimed at senior management, leadership and owners of financial institutions subject to FinCEN’s regulations.… Continue Reading

Money services business penalized for repeated AML deficiencies

The Financial Crimes Enforcement Network (FinCEN) announced Tuesday its assessment of a civil penalty against Georgia-based Mian, Inc. for violating the Bank Secrecy Act’s program and reporting requirements.

Mian, a money services business (MSB), committed numerous violations even after being put on notice by the Internal Revenue Service’s that it had deficiencies in meeting its reporting obligations.

Continue Reading